FS Credit Opportunities (NYSE:FSCO) Sets New 52-Week High - Here's Why

Key Points

• FS Credit Opportunities Corp. shares reached a new 52-week high of $7.59, showing significant trading volume of approximately 358,528 shares.
• The company announced an increase in its monthly dividend to $0.0678 per share, equating to an annualized yield of 10.7%, up from a previous dividend of $0.06.
• Institutional investors have become increasingly involved, with numerous firms acquiring new positions, resulting in 36.37% of the stock now being held by such investors and hedge funds.

FS Credit Opportunities Corp. (NYSE:FSCO - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $7.58 and last traded at $7.59, with a volume of 358528 shares traded. The stock had previously closed at $7.45.

FS Credit Opportunities Stock Performance

The stock has a 50 day moving average price of $7.27 and a two-hundred day moving average price of $7.02.

FS Credit Opportunities Increases Dividend

The business also recently declared a monthly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 24th were issued a dividend of $0.0678 per share. This represents a c) annualized dividend and a yield of 10.9%. This is a boost from FS Credit Opportunities's previous monthly dividend of $0.06. The ex-dividend date was Thursday, July 24th.

Hedge Funds Weigh In On FS Credit Opportunities

Several large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in FS Credit Opportunities during the 2nd quarter worth about $35,000. Global Assets Advisory LLC bought a new stake in shares of FS Credit Opportunities during the first quarter valued at approximately $77,000. Curran Financial Partners LLC acquired a new stake in shares of FS Credit Opportunities in the first quarter valued at approximately $78,000. WPG Advisers LLC bought a new position in FS Credit Opportunities in the 1st quarter worth approximately $84,000. Finally, Freestate Advisors LLC acquired a new position in shares of FS Credit Opportunities during the first quarter valued at $85,000. Institutional investors and hedge funds own 36.37% of the company's stock.

About FS Credit Opportunities

FS Credit Opportunities Corp. is a close ended fixed income fund launched by Franklin Square Capital Partners. The fund is managed by FS Global Advisor, LLC. It invests in fixed income markets across the globe, with a strong focus on Europe and the United States. The fund seeks to invest in securities of companies that are operating across diversified sectors.